Colorado purchasing alliance finds new state partner after Bright Health exit

Peak Health Alliance will begin offering health insurance again in 2024 through Denver Health Medical Plan. 

Peak Health Alliance, formed in 2019, is a nonprofit purchasing group aimed at lowering premium costs in rural Colorado by negotiating directly with providers. 

The alliance previously partnered with Bright Health to offer health plans. Peak Health Alliance was unable to offer plans for 2023 after Bright Health exited the individual and group insurance market. 

According to an April 10 news release, the plans offered by Denver Health Medical Plan will comply with the state's Colorado Option price targets. The Colorado Option, which took effect last year, requires insurers in the state to offer ACA exchange plans with set benefits at progressively lower price targets.  

Denver Health Medical Plan was the only payer to say it expected to be able to hit the target prices for all of its offerings. Some payers said they expected to meet the target for some of their plans. 

Denver Health Medical Plan is part of the larger Denver Health organization, which is overseen by the state. 

In an April 10 news release, Colorado Insurance Commissioner Michael Conway called the partnership a "positive step forward" for the eight counties Peak Health Alliance serves. 

"Because the core strength of the alliance is working with providers and business and community leaders, this partnership means the Peak Health Alliance can continue to work towards offering its constituents quality health plans at reasonable prices," Mr. Conway said. 

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